Ellsworth Advisors LLC Has $5.39 Million Position in Packaging Co. of America (NYSE:PKG)

Ellsworth Advisors LLC increased its position in shares of Packaging Co. of America (NYSE:PKG) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,052 shares of the industrial products company’s stock after purchasing an additional 104 shares during the quarter. Packaging Co. of America accounts for approximately 1.7% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 10th largest position. Ellsworth Advisors LLC’s holdings in Packaging Co. of America were worth $5,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Packaging Co. of America during the third quarter worth about $25,000. Clear Street Markets LLC raised its stake in Packaging Co. of America by 94.6% during the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 88 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth about $28,000. Money Concepts Capital Corp raised its stake in Packaging Co. of America by 60.0% during the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth about $37,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.4 %

Shares of Packaging Co. of America stock traded up $0.84 on Friday, reaching $189.78. 504,281 shares of the company’s stock were exchanged, compared to its average volume of 749,133. The company has a market capitalization of $17.01 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 4.62 and a beta of 0.77. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $190.60. The firm’s 50-day moving average is $175.14 and its two-hundred day moving average is $163.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 EPS. Sell-side analysts predict that Packaging Co. of America will post 8.18 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, March 14th. Packaging Co. of America’s payout ratio is 58.96%.

Insider Buying and Selling

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PKG shares. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $147.00 to $173.00 and gave the company an “equal weight” rating in a research note on Thursday, November 30th. Truist Financial upped their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Finally, Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $165.33.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.